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i think everybody is very familiar with, but i think sometimes google's of the sale -- auto fill is an interesting harbinger. if you type in student loan, it will suggest student loan forgiveness. if you type in student debt, it will suggest student debt crisis. this is a problem many people worry about, whether it is at 3:00 a.m. when they cannot sleep or in the hospital staring at their new baby and wondering, how will i do this the way i want to, the way maybe my parents were able to manage in a previous generation. it is a massive issue. the average student graduates with $26,600 worth of debt and over 13% default within three years. we have more outstanding student at than auto or credit- card debt at this point. many may think it is good that we have more student debt than credit-card debt, but not if we are not able to pay it back. the current job market and the great recession have made it much worse. so, the problem. i want to have maryann talk -- marian talk about her incredible investigative work into how this affects parents. first of all, what are the biggest conce
it up on google 20 months ago, it would have something to do with coal and carbon, but this is about automatic cuts going into place known as sequestration. host: how did this come about? where is it headed? caller: as we recall from last year, there was a crisis over raising the debt ceiling. republicans demanded some cuts from congress. they agreed to $1 trillion in cuts, they handed over $1.50 trillion to the super committee. because they failed to come up with a deal that could be approved by congress and the president, those automatic cuts go into effect, $1.20 trillion over 10 years. the first cut will go into effect on january 2 of 2013. host: how are the defense sequestration cuts being applied? are we sure? guest: we are not exactly sure, but the law says that every program and activity must be cut by the same percentage. there may be some flexibility, but the understanding is that you have to go across the board and cut everything by the same amount, estimated to be about 9.4% in the case of the pentagon. host: what is on the table for the pentagon? guest: everything can be
Search Results 0 to 1 of about 2

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